BrainStorm Cell Therapeutics Reports Third Quarter 2016 Financial Results

Forward-looking statements

Statements in this announcement other than historical data and information constitute "forward-looking statements" and involve risks and uncertainties that could cause BrainStorm Cell Therapeutics Inc.'s actual results to differ materially from those stated or implied by such forward-looking statements. Terms and phrases such as "may", "should", "would", "could", "will", "expect", "likely", "believe", "plan", "estimate", "predict", "potential", and similar terms and phrases are intended to identify these forward-looking statements. The potential risks and uncertainties include, without limitation, risks associated with BrainStorm's limited operating history, history of losses; minimal working capital, dependence on its license to Ramot's technology; ability to adequately protect the technology; dependence on key executives and on its scientific consultants; ability to obtain required regulatory approvals; and other factors detailed in BrainStorm's annual report on Form 10-K and quarterly reports on Form 10-Q available at http://www.sec.gov. These factors should be considered carefully, and readers should not place undue reliance on BrainStorm's forward-looking statements. The forward-looking statements contained in this press release are based on the beliefs, expectations and opinions of management as of the date of this press release. We do not assume any obligation to update forward-looking statements to reflect actual results or assumptions if circumstances or management's beliefs, expectations or opinions should change, unless otherwise required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. CONTACTS Company: Uri Yablonka Chief Operating OfficerBrainstorm Cell Therapeutics Inc.Phone: 646-666-3188 uri@brainstorm-cell.com BRAINSTORM CELL THERAPEUTICS INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands (Except share data) September 30, December 31, U.S. $ in thousands Unaudited Audited ASSETS Current Assets: Cash and cash equivalents 955 428 Short-term deposit 10,238 15,527 Account receivable 110 759 Prepaid expenses and other current assets Total current assets 11,385 16,788 Long-Term Assets: Prepaid expenses and other long-term assets Property and Equipment, Net 312 271 Total Long-Term Assets 337 292 Total assets 11,722 17,080 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payables 352 1,169 Accrued expenses 576 1,500 Other accounts payable 267 283 Total current liabilities 1,195 2,952 Stockholders' Equity: Stock capital: Common stock of $0.00005 par value - Authorized: 100,000,000 shares at September 30, 2016 and December 31, 2015 respectively; Issued and outstanding: 18,687,987 and 18,643,288 shares at September 30, 2016 and December 31, 2015 respectively. Additional paid-in-capital 85,015 84,258 Accumulated deficit (74,499) (70,141) Total stockholders' equity 10,527 14,128 Total liabilities and stockholders' equity 11,722 17,080 BRAINSTORM CELL THERAPEUTICS INC. AND SUBSIDIARIES INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) U.S. dollars in thousands (Except share data) Nine months ended Three months ended September 30, September 30, Unaudited Unaudited Operating expenses: Research and development, net 1,927 4,123 790 1,503 General and administrative 2,506 3,016 848 1,068 Operating loss (4,433) (7,139) (1,638) (2,571) Financial (income) expenses, net (75) (35) (32) Net loss (4,358) (7,104) (1,606) (2,603) Basic and diluted net profit (loss) per share (0.23) (0.39) (0.09) (0.14) Weighted average number of shares outstanding used in computing basic and diluted net loss per share 18,654,826 18,354,580 18,656,615 18,480,957 To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/brainstorm-cell-therapeutics-reports-third-quarter-2016-financial-results-300363167.html